-- BULLISH PERSPECTIVE --
Gold has been quietly extending its recovery from the past 2 month lows of $1775 into the third consecutive trading session on Tuesday, mainly supported by the revival of the reflation trades amid growing optimism on the passage of a $1.9 trillion stimulus package from Congress. With that said, a possible bullish breakout may be...
Silver is expected to climb higher to complete wave #3.
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"Intelligence is the ability to adapt to change."
~ Osman - Technical Strategist @ LEFTURN
TIMEFRAME = Daily
Bias = Neutral/Bullish
THESIS
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After bottoming back in March 2020 during the Covid-19 selloff, Silver rallied from $11.70 to just under $30 in a matter of just 5 months.
That rally ended wave 1. It then corrected to the 38.2% retracement level and is now on it's third wave to the upside. Higher than average volume also suggests...